Silicon Valley opportunity zone fund secures $100m

Urban Catalyst, a real estate equity fund manager and development company focused on California’s Silicon Valley, has raised more than $100 million for its Urban Catalyst Opportunity Zone Fund II.

The funds will be used to further the construction of new ground-up projects in downtown San Jose, Calif.

Urban Catalyst Opportunity Zone Fund II has proven to be attractive to Bay Area residents, in particular those with recent capital gains from the sale of stock or a business, as well as investors from other states, said Morgan Mackles, EVP of investor relations at Urban Catalyst. As a result, Fund II has reached $100 million 40 percent faster than Fund I. The fund is now open to new investors.

“Our strategic partners in the independent broker dealer and registered investment advisor community have played a key role in helping us raise over $100 million for Fund II,” said Pisoot Senethavilay, director, strategic partnerships. “This milestone demonstrates the